AAF Government Report

September 21, 2012

Clark Rector Jr., Executive Vice President – Government Affairs

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Lawmakers to Discuss Tax Provisions

The tax-writing House Ways and Means Committee has begun to hold bipartisan private meetings to discuss the many tax provisions expiring at the end of the year, including the President Bush ere tax cuts. In addition to the tax provisions, Congress will also be under pressure to deal with sequestration, or the automatic cuts to defense and domestic programs that will be enacted absent congressional action before 2013. Taken together, the tax and spending issues constitute the so-called fiscal cliff.

Specifics of the meetings are unknown, but history teaches us that at some point advertising will be a point of discussion. For example, just one year ago, the Joint Select Committee on Deficit Reduction actively deliberated placing limits on the amount of the cost of advertising that a business could deduct as one strategy for generating additional tax revenues.

AAF and many of our grassroots members across the country have been preparing for the possibility of the issue being raised again by meeting with members of the Committee to explain the importance of maintaining the full advertising tax deduction. A key tool is economic data that shows the amount of economic activity and jobs generated by the advertising industry across the country, as well as in every state and congressional district.

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